| BRL billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 15.1 | 28.4 | 30.2 | 33.9 | 42.1 | 44.0 | +4.4% | |
| Depreciation & amortization | 3.7 | 4.2 | 4.8 | 5.7 | 6.4 | 0.0 | −100.0% | |
| Stock-based compensation | 0.2 | (0.0) | 0.2 | 0.2 | 0.8 | 0.0 | −100.0% | |
| Change in working capital | 5.1 | (27.3) | 39.1 | (6.1) | (77.6) | 51.7 | +166.7% | |
| Operating cash flow | 59.5 | 60.1 | 129.6 | 77.5 | (96.3) | 129.4 | +234.3% | |
| Capital expenditure | (5.3) | (9.1) | (8.5) | (9.2) | (1.8) | (1.2) | +37.1% | |
| Acquisitions | 0.0 | (0.0) | 0.0 | 0.0 | (0.1) | 0.0 | +100.0% | |
| Investing cash flow | 0.8 | (4.8) | (73.3) | (31.2) | 7.0 | (210.2) | −3116.1% | |
| Dividends paid | (11.6) | (6.3) | (6.7) | (10.3) | (21.3) | (47.4) | −122.2% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | (0.7) | (1.8) | (3.0) | −70.4% | |
| Debt issued / repaid | (5.3) | (24.2) | (22.2) | (10.8) | 0.3 | 43.5 | +12652.4% | |
| Financing cash flow | (13.6) | (31.5) | (31.7) | (22.4) | 81.7 | 88.6 | +8.5% | |
| Free cash flow | 54.2 | 51.0 | 121.1 | 68.3 | (98.2) | 128.2 | +230.6% | |
| Net change in cash | 35.0 | 3.9 | 0.4 | 12.3 | 0.7 | 0.0 | −100.0% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
Statements are reported in BRL; the shares trade in USD.
